Begin by adding construction adhesive to the back of the paneling, and then place the panels on the wall, making sure to keep the top edge lined up with the top horizontal lines marked off the floor (Image 1).
Once the panel is in place where you want it, use a brad nailer to secure it to the wall (Image 2). You can place brads everywhere the stiles will be located since they'll be hidden.
When you come to a panel that has an outlet in it, remove the cover plate, and then measure over from the edge of the first panel to both sides of the box. Do the same from the top and bottom of the box.
Note: You'll wait until this point to cut out for these boxes because the holes need to be place accurately.
With the power "off" loosen the outlet itself so you'll be able to get the panel on after the hole is cut.
Take a quick trip back outside to cut the hole for the box using a jig saw. Once that's done, test fit the panel to make sure the cut is exactly right (Image 3).
Add adhesive to the back of the panel and set in place, and nail it inside the markers for the stiles. The panels go up easy so just continue around the room.